| Government Securities Prices | 10-year: 98 11/32 to yield 2.56, up 6/32 30-year: 96 31/32 to yield 3.28, up 5/32 |
|---|---|
| Municipal Bond Index | 123 16/32, up 4/32 |
| The Bond Buyer's 30-Day Visible Supply (as of 09/23) | Total: $11.805 billion, up $505.9 million Competitive: $2.091 billion, down $30.5 million Negotiated: $9.714 billion, up $536.4 million |
| The MuniCenter List | Offering total: $8.049 billion, up $408.0 million |
Credit ratings for California utilities could face downward pressure as recurring wildfire risks test safety funds and strain balance sheets.
"In a few years, Brightline may have to consider going through something like this again," warned one investor.
Bondholders and Assured Guaranty are providing substantial funding in post-petition and post-bankruptcy packages to keep the project operating.
GASB has issued updated questions and answers designed to clarify how subsidies relate to operating revenue, an important distinction affecting higher education, and transportation entities.
Ahead of a refinancing next week and a new money deal next month, Chicago's spreads have widened, suggesting the market may be pricing in a downgrade, analysts said.
Moody's Ratings said the downgrade "reflects a weakening of the county's financial position."
